Big trends in ASC M&A – hospital, ASC chain and private equity

Matthew Searles is a partner with Merritt Healthcare, an ASC management and development firm that works with centers nationwide.

Mr. Searles will share his expertise as a speaker at the Becker's ASC 26th Annual Meeting: The Business and Operations of ASCs, Oct. 24-26, 2019 in Chicago. To learn more and register, click here. For more information about exhibitor and sponsor opportunities, contact Maura Jodoin at 

He has experience assisting in the sale of surgery centers and surgical hospitals, as well as working with health systems acquiring outpatient facilities. Here, he discusses the ASC transaction landscape.

Question: What are the top two to three trends you're seeing in ASC M&A today?

Matthew Searles: Consolidation of healthcare services and broad interest in accessing the entire continuum of care as a mechanism to accommodate value-based payment models.

Q: Where do you see the biggest potential for an increase in hospital acquisitions of ASCs?

MS: Any market where this has not occurred. Hospitals need to lower the cost of care to the communities they serve.

Q: Where will we see more transactions for national chains?

MS: National chains will continue to consolidate among themselves and execute transactions in markets where they see growth.

Q: How will M&A change over the next two to three years? What factors drive M&A in the ASC space?

MS: Outsized multiples for physician practices will come down to sustainable levels as large group practices, payers and hospitals take the lead in consolidation.

Q: What role will private equity play in M&A for ASCs and endoscopy centers in the future?

MS: Private equity simply sees an opportunity to consolidate a fragmented market with the end goal of selling to established operators, larger group practices (some PE backed) or hospital systems.

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